RBI Dividend: The meeting of the Reserve Bank of India board is going to be held today i.e. on May 19, 2023. Many major decisions can be taken during this meeting. One of these decisions can increase the Modi government’s debt to double the official estimates due to RBI’s own profit and profit from the sale of dollars. This will work to bridge the financial deficit.
According to a Bloomberg survey report, economists estimate a surplus transfer of $ 10.9 billion or Rs 900 billion for the March quarter of the financial year. This is higher than the government’s estimate of $6.2 billion. Last year, the RBI had approved the lowest payout of Rs 303.1 billion in a decade.
Will help in meeting the GDP target
RBI board meeting is on Friday i.e. today. During the meeting, there can be discussion about high interest rate and reduction in global demand. A High Dividend Payout Prime Narendra Modi Along with helping the government in reducing the fiscal deficit, it will help in meeting the target of 5.9 percent of the gross domestic product. A year before this it was 6.4 per cent and will increase before the 2024 elections.
Government expects a lot of dividend
It has been said in the Bloomberg report that RBI will issue a lot of dividend, so that it will be of great help in reducing the borrowing of the government. Madhavi Arora, economist at MK Global Financial Services, said that the financial year 2022-23 will benefit from near record foreign exchange sales. He says that Dividend can bring in additional revenue of 0.2 per cent to GDP. This can compensate for low investment and slow revenue.
RBI’s Dividend Payment Estimate
According to a Bloomberg survey, it is estimated that the RBI’s dividend payout could be anywhere between $6.8 billion and $21.4 billion, higher than the previous record set in 2018-19. Sales during the eleven-month period till February this year are more than $ 206 billion, while in the financial year 2021-22 it was less than $ 97 billion.
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